12 CFR 608.840
§ 608.840 Refunds.
United States · 12 CFR — Banks and Banking · Status: effective
Cite this
- Citation
- 12 CFR 608.840, § 608.840 Refunds, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/47572
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Full text
(a) In instances where the FCA is the creditor agency, it shall promptly refund any amounts deducted under the authority of 5 U.S.C. 5514 when:
(1) The debt is waived or otherwise found not to be owed to the United States (unless expressly prohibited by statute or regulations); or
(2) An administrative or judicial order directs the FCA to make a refund.
(b) Unless required or permitted by law or contract, refunds under this section shall not bear interest.
Legislative history
This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.